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This document summarizes several key Philippine laws related to tourism investment, including the Tourism Act of 2009, Special Economic Zone Act, Omnibus Investment Code, and others. It outlines the incentives available for tourism enterprises and economic zones, including tax holidays and import duty exemptions. It also identifies priority investment areas for the tourism industry such as accommodations, conventions, eco-tourism, and healthcare facilities.
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- 1. DOT POWERPOINT The Tourism Act of 2009 (Republic Act No. 9593) Special Economic Zone Act (Republic Act No. 7916) The Omnibus Investment Code of 1987(Executive Order No. 226) Act Granting of SpecialInvestors ResidentVisa (SIRV)(Executive OrderNo. 63) The Foreign Investments Act of 1991(Republic ActNo. 7042) InvestorsLease Act(Republic ActNo. 7652)TOURISMRELATED INVESTMENT LAWS TOURISMENTERPRISE ZONES THE TOURISMACT OF 2009 (R.A. 9593)Designation, operation and administration of incentives to theestablishment of tourism enterprise zones (TEZ)CRITERIA Definedinto one contiguous territory; Must have historical and cultural significance,environmental beauty,or existing or potential integrated leisure facilities within its bounds orwithin reasonable distances from it; Strategic access through transportation infrastructure, utilities,infrastructure systemTOURISM ENTERPRISE ZONES At least five (5) hectares and sufficientin size. It is in a strategic location such as to stimulate thesustainable socio-economic developmentof neighboringcommunities. The area must be situated where controls can easily beestablishedto curtail illegal activities.TOURISMENTERPRISE ZONES THE TOURISMACT OF 2009 (R.A. 9593)Incentives Available to Tourism Enterprises outside of designatedTEZsCRITERIA Registered Tourism Enterprise undertakes a substantialexpansion/upgrade of facilities Cost of expansion/upgrade of physical assets amounts to at least 50% ofthe original investment There is a significant change in its categoryclassificationunder theDOTs accreditation systemTOURISMENTERPRISE ZONES Incentives to TEZs and tourism enterprises within thezoneIncome Tax Holiday (6 years, extendible for another 6 years)Net Loss Carry Over (Deductionfrom gross income for 6years)Gross Income Taxation (5% GIT Rate)Importationof Capital Investment and EquipmentImportationof Transportation Equipmentand Spare PartsImportationof Goods and ServicesTOURISMENTERPRISE ZONES Tax credit Social ResponsibilityIncentive Employmentof Foreign Nationals SpecialInvestors ResidentVisa Foreign Currency
- 2. Transactions Requisitionof Investment Lease and Ownership of LandTOURISMENTERPRISEZONES Incentives to Tourism Enterprise located outside of TEZIncome Tax Holiday (6 years, non-extendible)Importationof capital equipment free of taxes and dutiesTOURISMENTERPRISE ZONES Classificationof TEZsCultural Heritage Tourism ZoneHealth & Wellness Tourism ZoneEco-tourism ZoneGeneralLeisure Tourism ZoneMixed Use Tourism ZoneTOURISMENTERPRISE ZONES Ciudad De Victoria, BulacanNewport City, ParanaqueDESIGNATED TEZs. TOURISMECONOMIC ZONES SPECIALECONOMIC ZONE ACT (R.A. 7916) MOA betweenDOT and PEZASigned October7, 2002 Guidelines for Registration of TEZsEffective November12, 2002TOURISMECONOMIC ZONES SPECIALECONOMIC ZONE ACT (R.A. 7916)Registrable Activities Tourism Ecozone Developers/Operators Tourism Ecozone LocatorsSports and Recreational Centers Accommodation Convention & Cultural Facilities Theme Parks SpecialInterest Attraction/Activities/EstablishmentsTOURISMECONOMIC ZONES SPECIALECONOMIC ZONE ACT (R.A. 7916)Registrable Activities Enterprises establishing and operating airports,seaports/marinasTOURISMECONOMIC ZONES SPECIALECONOMIC ZONE ACT (R.A. 7916)Incentives to Tourism EcozoneDevelopers Exemptionfrom national and local taxes,in lieu thereof, 5% Gross Income RateTOURISMECONOMIC ZONES SPECIALECONOMIC ZONE ACT (R.A. 7916)Incentives to Tourism Ecozone Locators Tax and duty free importation of CapitalEquipment Income Tax Holiday Employmentof foreign nationals Exemption from national and local taxes, in lieuthereof,5% Gross Income Tax Rate SIRV under E.O. 63TOURISMECONOMIC ZONES DECLARED ECOZONES UNDER PEZACamarines Sur Tourism ParkBoracay Eco-Cultural VillageResortIlawod Estates CabatuanIloiloPaseo Del Rio De CagayanCagayan De Oro City SYMPOSIUM ON PROPERTYDATA BANKING FOR TOURISM INVESTMENTSTourismInvestments PromotionGroupOffice of Tourism Standards and RegulationDepartmentof TourismDECLAREDECOZONESUNDER PEZAEmbarcadero de
- 3. LegazpiLegazpiCityPangulasian Island GreenTourism Economic ZoneBagong Nayong PilipinoEntertainment CityManila Bay Resorts INVESTMENTPRIORITIESPLAN(IPP) OMNIBUS INVESTMENTS CODE OF 1987 under (EO 226)AccommodationFacilities (P/NP)(Hotels, Resorts,Condotels ,Tourist Inns, Apartels/Serviced Apartments,PensionHouses, Motels,Private Homes for Homestay, Ecolodges, Bed &Breakfast facilities) Convention and exhibition facilities (MICE) Adventure and Eco-tourism facilities Sport facilities and recreational centers Agri- tourism farms and facilities Theme parks/AmusementParks Tourist Transport Services Developmentof Retirement Villages Health/Medical Tourism Facilities (Spas, tertiary hospitals, ambulatoryclinics) Tourism Training Centers/Institutes Restoration/preservation and operation of historical shrines, landmarks andstructuresINVESTMENT PRIORITIES PLAN OMNIBUS INVESTMENTS CODE OF 1987 (EO 226)PIONEER STATUS CRITERIA Hotelprojects/apartmenthotels/serviced apartments/condotelsclassified as First Class or Deluxe costing at least US $100,000 / roomResortprojects classified as Class AAA with project costof at leastUS $ 10 million per project Projects located in LDAs Modernization of hotels classified as First Class or De Luxe with a projectcostof at least US$ 10,000/roomAmusement parks/theme parks with a minimum projectcostof US$ 10million involving the developmentsites or attractions consideredas novel inthe Philippines Adventure and ecotourism facilities/agri-tourism farms and facilities with aproject costof at least the Philippine Peso equivalent of USD 5 million.INVESTMENT PRIORITIES PLAN OMNIBUS INVESTMENTS CODE OF 1987 (EO 226)INCENTIVES TO TOURISMPRIORITYPROJECTS IncomeTax Holiday Importation of Capital Equipment(pursuantto E.O. 70) Employment of foreignnationalsINVESTMENT PRIORITIESPLAN INCOME TAX HOLIDAY UNDER EO 226 New Projects (Pioneer) - 6 years New Projects (Non-Pioneer) - 4 years Expansion Projects - 3 years Projects in Less Developed - 6 yearsAreas (regardless of status) Modernization Projects - 3 yearsINVESTMENT PRIORITIES PLAN IMPORTATIONOF CAPITAL EQUIPMENT (pursuantto E.O. No. 70) 0% duty on equipmentgranted to enterprisesregistered with BOI
- 4. Can be availed for five (5) years or until May2017.INVESTMENT PRIORITIES PLAN INCENTIVESUNDERE.O.# 63 SpecialInvestors ResidentVisa (SIRV)to investor, wife and unmarried minorchildren Remittance of Earnings Repatriation of Capital Right of successionINCENTIVES UNDER E.O. # 63 He has not been convicted of a crime involvingmoral turpitude He is not afflicted with AIDS or any loathsome,dangerousor contagious disease He has not beeninstitutionalized for any mentaldisorderor disability He is willing and able to invest at leastUS $50,000 in a tourism related projectQUALIFICATIONS: TOURISMRELATED INVESTMENT LAWSFOREIGN INVESTMENTS ACT OF 1991 (RA 7042 AS AMENDEDBYRA 8179)Domestic market is open to foreign investors as long as theactivity is not restricted in the ForeignInvestment NegativeList (FINL) Ownership of private lands (up to 40% foreign equity) Tourist Transport Operation (up to 40% foreignequity)Tourism Capability Building Seminar OWNERSHIPOF PRIVATE LANDSGeneralRule Nationality Requirementunder the PhilippineConstitution up to 40% foreign equityTOURISMRELATEDINVESTMENT LAWS LEASING OF PRIVATELANDSGeneral Rule per PD 471 25 years - original 25 years - renewable Exceptionper RA 7652 or Investors Lease Act Minimum investment of US $5 million for tourismprojects50 years - original 25 years - renewableTOURISM RELATEDINVESTMENT LAWS SUMMARYAt present, the Philippine tourism industry is verydynamic and fast growing .... more and moreinvestments are needed to sustain its growth...Focus on the National Tourism Development Clustersfortourism investmentsInvestin Philippine tourism. When? NOW. Investments.More fun in thePhilippines